Robert Fagan has been with CB Richard Ellis since 1993. Prior to that he was a partner in a general contracting firm specializing in commercial construction. ”I was drawn to this business by the individuals,” he said. “ I had long-term relationships with several people who were working at CBRE and other brokerage houses. Many of them seemed to be enjoying great success and seemed to strike a real balance in their lives. I joined CB as an Office Broker. After being in this business for a number of years I realized that the intangible benefits were unlike almost all other industries. We use the term “co-operating broker” in our daily vernacular, but it really means something in this business. Working for a national company like CB, I work with brokers in other markets on nearly a daily basis. My impression is that Kansas City is one of the best atmospheres in the country to operate. By way of example, I have served as an arbitrator for the Kansas City Board of Realtors for the past seven years. In that time there have only been three commercial disputes that have gone to arbitration. I’m much more likely to join a direct competitor at a Royals game or on a duck hunting weekend than at the arbitration table.”
Tell us what’s been going on at the Sprint Campus.
The Sprint Campus is one of the most intriguing leasing listings ever offered in the Kansas City area. It is great opportunity to work for a world-class client with a world-class lease offering. The Sprint Campus is unique in this area and arguably it is replicated in only a few spots across the country.
Tell us about any interesting deals you’ve been involved with recently.
We were able to capture three of the top 10 leases last year in the Kansas City area at the Sprint Campus. These three leases total 303,000 square feet and prove to the market that the Campus does have the ability to be broken into a multi-tenant park. The park was not designed for more than one user and the challenges presented to us in the first months of the assignment were fascinating. We helped create the ground-up systems and processes that would allow Sprint to sign leases with initial terms and renewal rights stretching 20 years.
How did you fare in 2009 and what’s your strategy for 2010?
In January 2009 there was no clear picture of how the year would end up. By mid- year, consumer confidence had stabilized which, in turn, led to stabilization of office employment. A stable environment allowed tenants to take advantage of the market and strike longer deals than one or two years which resulted in a terrific year overall. The market is still in flux and tenants will continue to take advantage of a downturn in pricing. We will see flight to quality and savvy landlords will have to work very hard to maintain tenants and to overcome the aggressive leasing terms being offered.
What do you do outside the office?
This career is a real blessing in that I get to go home at night and impress on my kids that you can find a career that you really love — something that is truly enjoyable and lucrative at the same time. When I am not working, I hunt as much as possible during the season and fish when I can. I coach softball in the summer and spend a lot of the school year sitting in the stands or at Scout events. My wife and I have decided that when we vacation with the kids we are going to explore America . By the time they enter high school they will have covered an enormous amount of country . Our hope is that they gain a real education through travel.